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Market News

European Markets

Opening calls are indicating a higher open this morning.

Asian Markets

Indices are trading higher in the current session.

US Markets

U.S. stocks surged to finish near the highest levels of the day Monday, amid high hopes that Europe’ debt crisis is headed on the right path…toward resolution.

The Dow Jones industrial average rallied 272 points, or 2.5%, and the S&P 500 added 27 points, or 2.3%.

Events this week

Tuesday: The Case-Shiller 20-city home price index, due before the market opens, is expected to have increased 4.5% in July after dipping 4.5% in June.

Due after the bell, the Conference Board’ July consumer confidence index is forecast to increase to 46.7 in September from 44.5 in August.

In corporate news, quarterly results are due from Walgreens (WAG, Fortune 500).

Wednesday: A government report on durable goods is expected before trading begins. Economists estimate that orders stayed the same in August, after rising 4% in the prior month. Excluding volatile transportation orders, durable good orders are expected to be up 0.2%.

Also in the morning, Family Dollar (FDO, Fortune 500) will report quarterly earnings.

A weekly report on crude inventories is also due.

Thursday: The third and final reading on second-quarter economic growth is due before the start of trading. Economists expect that gross domestic product, the broadest measure of the nation’ economic activity, grew at an annual rate of 1.2% in the three months ended in June, up from the previous reading of a 1% rise.

Also on tap before the opening bell: the Labor Department will put out its weekly jobless claims numbers. Economists are looking for claims to 420,000 in the latest week.

Later in the morning, a report from the National Association of Realtors is expected to show pending home sales down 1.3% in July.

Friday: A government report on personal income and spending is due before the opening bell. Economists expect income to have stayed the same in August after rising 0.3% in the previous month. Spending is forecast to have increased 0.2% last month, following an 0.8% increase in July.

The Chicago PMI, a regional reading on manufacturing activity, will be released after the bell. The measure is expected to have moved to 54.0 in September from 56.5 in August.

The University of Michigan’ final reading on consumer sentiment in September is due shortly after the market opens. It’ expected to come in at 57.6 down slightly from the last reading 57.8.